“Prosperity ends in a crisis. The era of optimism dies in the crisis, but in dying it gives birth to an era of pessimism. This new era is born, not an infant, but a giant; for an industrial boom has necessarily been a period of strong emotional excitement, and an excited man passes from one form of excitement to another more rapidly than he passes to quiescence. Under the new error, business is unduly depressed.”

— Arthur Cecil Pigou

Arthur Cecil Pigou, As quoted in Business Cycles : The Problem and Its Setting (1927) by Wesley Clair Mitchell, p. 19

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Prosperity ends in a crisis. The era of optimism dies in the crisis, but in dying it gives birth to an era of pessimism…" by Arthur Cecil Pigou?

Arthur Cecil Pigou 8

British economist 1877–1959

Related quotes

“In our era, the road to holiness necessarily passes through the world of action.”

Dag Hammarskjöld (1905–1961) Swedish diplomat, economist, and author

Markings (1964)

“They call you "Little Man", "Common Man"; they say a new era has begun, the "Era of the Common Man".”

Wilhelm Reich book Listen, Little Man!

Listen, Little Man! (1948)
Context: They call you "Little Man", "Common Man"; they say a new era has begun, the "Era of the Common Man". It isn't you who says so, Little Man. It is they, the Vice Presidents of great nations, promoted labour leaders, repentant sons of bourgeois families, statesman and philosophers. They give you your future but don't ask about your past.

“Policies and business strategies that worked well in the industrial era are a recipe for stagnation and decline in the new economy”

John Roth (1942) Canadian businessman

John Roth https://web.archive.org/web/20110523072731/http://www.time.com/time/europe/magazine/2000/1225/poy_roth.html December 25, 2000

“Clearly, no longer can a dictator count on East-West confrontation to stymie concerted United Nations action against aggression. A new partnership of nations has begun. And we stand today at a unique and extraordinary moment. The crisis in the Persian Gulf, as grave as it is, also offers a rare opportunity to move toward an historic period of cooperation. Out of these troubled times, our fifth objective — a new world order — can emerge: a new era, freer from the threat of terror, stronger in the pursuit of justice, and more secure in the quest for peace. An era in which the nations of the world, east and west, north and south, can prosper and live in harmony.”

George H. W. Bush (1924–2018) American politician, 41st President of the United States

Speech to joint session of Congress (11 September 1990), as quoted in Encyclopedia of Leadership (2004) by George R. Goethals, Georgia Jones Sorenson, and James MacGregor Burns, p. 1776 http://books.google.com/books?id=kjLspnsZS4UC&pg=RA4-PA1776&dq=%22Out+of+these+troubled+times+our+fifth+objective+a+new+world+order+can+emerge%22&num=100&ei=JoabR-ieJZjSigH106CoCg&ie=ISO-8859-1&sig=75hwmo0dYLCTYEOSWyXaECUpMzA and Confrontation in the Gulf; Transcript of President's Address to Joint Session of Congress http://query.nytimes.com/gst/fullpage.html?res=9C0CE6DF113CF931A2575AC0A966958260 The New York Times. September 12, 1990.